Hugo Boss AG fell to a 2 1/2-week low in Frankfurt trading after Hamburger Sparkasse cut its recommendation on Germany’s biggest luxury clothier to “ hold ” from “buy,” citing the cost of the retail chain’s expansion.
UniCredit SpA, Italy’s biggest bank, posted a record 15 billion-euro ($20.8 billion) fourth- quarter loss as it set aside money for bad loans and wrote down goodwill from acquisitions. It plans to cut 8,500 jobs.
ThyssenKrupp AG, the German steelmaker seeking to divest its Americas unit, fell the most on the DAX index after two people briefed on its plans said it may hold on to its plant in Brazil and sell only the U.S. operation.
Deutsche Bank AG will pay about 925 million euros ($1.27 billion) to settle a 12-year-old dispute with the heirs of Leo Kirch over the collapse of his media group, according to two people familiar with the matter.
Deutsche Bank AG, Europe’s biggest investment bank, offered shareholders a discount of 24 percent to buy new stock as it sought to raise a total of 8.5 billion euros ($11.6 billion) to strengthen its finances.
Deutsche Bank AG, Germany’s biggest bank, is close to settling litigation over the collapse of Leo Kirch’s media group for more than 900 million euros ($1.2 billion), according to a person with knowledge of the talks.